We've heard a lot of arguments in the past two weeks about the relative merits of Janet Yellen and Larry Summers to be the next Federal Reserve chairman. It is the first time I can remember that the public and private discussions have been so open, which in general would be a good thing, particularly for an institution so steeped in a kind of "Holy-of-Holies" secrecy such as the Fed has been. What is less attractive is that it has now turned into something more like a political campaign.
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